November 2, 2022 Terry’s Tips Trade Alert – Boomer’s Revenge Portfolio
We are adding spreads to reduce delta:
BTO 1 IWM 16Dec22 182 put (IWM221216P182)
STO 1 IWM 11Nov22 172 put (IWM221111P172) for a debit of $7.10 (buying a diagonal)
BTO 1 IWM 16Dec22 188 call (IWM221216C188)
STO 1 IWM 11Nov22 180 call (IWM221111C180) for a credit of $0.20 (buying a diagonal)
BTO 1 IWM 16Dec22 178 put (IWM221216P178)
STO 1 IWM 11Nov22 170 put (IWM221111P170) for a debit of $5.60 (buying a diagonal)
Be prepared to change this (these) price limit(s) by $.05 or more to get an execution.
Happy trading.
Terry
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